What is their current yield

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Reference no: EM13125776

Garvin Enterprises' bonds currently sell for $1,150. They have a 6-year maturity, an annual coupon of $85, and a par value of $1,000. What is their current yield?

a. 7.39%

b. 7.76%

c. 8.15%

d. 8.56%

Reference no: EM13125776

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